Tony is a surety for Monica on a debt she owes to Francis. If Monica properly tenders full payment and Francis refuses it, both Monica and Tony are discharged from the debt
a. True
b. False
Indicate whether the statement is true or false
False
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Use this information to answer the following question. These facts concern the long-term stock investments of DeBord Corporation: June 1, 2014 Paid cash for the following long-term investments: 5,000 shares Vanhook Corporation common stock (representing 5 percent of outstanding stock) at $40 per share; 3,000 shares Shust Corporation common stock (representing 3 percent of outstanding stock) at
$24 per share. Dec. 31, 2014 Quoted market prices at year end: Vanhook common stock, $35; Shust common stock, $27. April 1, 2015 A change in policy required the sale of 1,000 shares of Vanhook Corporation common stock at $38. July 1, 2015 Received a cash dividend from Shust Corporation equal to $.30 per share. Dec. 31, 2015 Quoted market prices at year end: Vanhook common stock, $39; Shust common stock, $22. The entry to set up the Allowance to Adjust Long-Term Investments to Market in 2014 is: A) Long-Term Investments 16,000 Realized Loss 16,000 B) Realized Loss 16,000 Long-Term Investments 16,000 C) Allowance to Adjust Long-Term Investments to Market 16,000 Long-Term Investments 16,000 D) Unrealized Loss on Long-Term Investments 16,000 Allowance to Adjust Long-Term Investments to Market 16,000
Organic foods are those that are grown ________
A) without the use of technology B) locally C) without the use of pesticides and synthetic fertilizers D) using sustainable measures such as crop rotation E) by independent farmers rather than corporations
Using the accrual basis of accounting to measure net income creates the need for a separate financial statement that reports the impact of operations on cash flows
Indicate whether the statement is true or false
Compare the following product offerings. Which is an example of indirect competition?
A. Crest and Colgate toothpaste B. Dunkin' Donuts and Krispy Kreme Doughnuts C. Sirius XM radio and Pandora D. Burger King and Subway E. Coca-Cola and Pepsi